If Congress doesn't raise debt ceiling, U.S. will be "deadbeats": Obama

ROUGH CUT (NO REPORTER NARRATION)
STORY: President Barack Obama, gripped in another budget battle, challenged the Congress to approve an increase in the U.S. debt ceiling or else the United States will be unable to pay its bills. If that happens, "We're deadbeats," Obama says.
He made the statement while addressing a group of automakers in Kansas City, Missouri.
Obama scolded Republicans for trying to gut funding for his signature healthcare law in exchange for a debt limit increase, and vowed that he would not be pressured into negotiating with "the full faith and credit of the United States."
Twin deadlines face Washington, with a budget deal needed by September 30 to avoid a federal government shutdown, and a separate agreement necessary by mid-October to prevent the United States from defaulting on its national debt.

SPONSOREDSTORIES

Reuters is the news and media division of Thomson Reuters. Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms.

*All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.